The parent company of Tennessee's most iconic whiskey brand lashed back Wednesday against President Donald Trump's planned tariffs on steel and aluminum, warning the company could be hit with retaliatory action from overseas trading partners.

Paul Varga, CEO of Brown-Foreman, which owns Jack Daniel's in Lynchburg, said during an earnings call Wednesday morning that the company could become an "unfortunate and unintended victim" of the tariffs.

Reagor Motlow, the son of Lem Motlow and great nephew of the one and only Jack Daniel, sits in the offices of the Jack Daniel's Distillery in Lynchburg, Tenn. July 3, 1965. Motlow, 67, has been retired for the past couple of years, but holds the corporate position of advisor-consultant at the place where his father made the world take notice of the whiskey and town. Gerald Holly / The Tennessean

Ray Stevens, left, and his wife, bump into Grammy nominee Loretta Lynn and her husband at the pre-Grammy cocktail party at the Municipal Auditorium March 3, 1973. The party was host by the Nashville Chapter of NARAS along with Jack Daniel's Distillery and First American Bank. Jack Corn / The Tennessean

The sour mash sits in large vats as it ferments for use in making the Jack Daniel's Tennessee Whiskey April 6, 1998. Tourist can go through the distillery in one of the many daily tours that last about one hour and fifteen minutes. Randy Piland / The Tennessean

The Jack Daniel's Silver Cornet Band is getting ready to play during a kickoff reception and dinner for Ninth Annual Economic Showcase held at The Factory in Franklin, Tenn. Aug. 30, 2000. Shelley Mays / The Tennessean

William Grogan, a tour guide at the Jack Daniel's Distillery for the past 23 years, is standing on the 7th story of one of the distillery's warehouses Jan. 8, 2004 where the single barrel whiskey is stored. A single barrel costs about $9,000 and yields 240 bottles of premium whiskey. Bill Steber / The Tennessean

"Captain" Rodney Simmons, left, serves up a bowl of his gumbo made with Jack Daniel's Whiskey while Jack Daniel's great grand niece Lynne Tolley, right, samples some and talks to his wife Linda Simmons during their search for the best tailgaters Sept. 26, 2004 before the Tennessee Titans game. Alan Poizner / For The Tennessea

Tour guide Randy Baxter, or "Goose" as he is known, shows visitors a portrait of Jack Daniel at the company's original office in Lynchburg, Tenn. Nov. 28, 2006. On the right is a portrait of Daniel's nephew, Lem Motlow, who took over the business when Daniel died. Shauna Bittle / The Tennessean

Greg Young, left, Rod LeNoir and Diane LeNoir inhale deeply as tour guide Margie Womble, right, lifts the lid off the charcoal mellowing tank to give the visitors "a sip" at the Jack Daniel's Distillery plant in Lynchburg, Tenn. Nov. 28, 2006. "That's the best I can do in a dry county," she said. Shauna Bittle / The Tennessean

Jack Daniel's employee Tracy Matlock burns a rick of sugar maple at the plant Nov. 28, 2006. The sugar maple is burned to make the charcoal through which Jack Daniel's whiskey is filtered. Shauna Bittle / The Tennessean

Visitors walk past a statue of Jack Daniel in Lynchburg, Tenn. July 20, 2007. Jack Daniel's Distillery, which is the first registered whiskey distillery in the United States, offers free tours 360 days of the year. Shauna Bittle / The Tennessean

The Lunchmean barbecue team from Rockland, Mass. carries their barbecue from the grill to the judges during the 19th Annual Jack Daniel's World Championship Invitational Barbecue in Lynchburg, Tenn. Oct. 27, 2007. Sarah B. Gilliam / For The Tenne

Michael Cawthon, Special Agent for the Alcoholic Beverage Commission, looks over some of the 2,400 bottles of Jack Daniel's seized from a local collector inside the vault where the Tennessee Alcoholic Beverage Commission stores its confiscated liquor Jan. 8, 2009. Larry McCormack / The Tennessean

Michael Cawthon, Special Agent for the Alcoholic Beverage Commission, displays a 1914 bottle of Jack Daniel's that is estimated to be worth $10,000 inside the vault Jan. 8, 2009 where the Tennessee Alcoholic Beverage Commission stores its confiscated liquor -- including the 2,400 bottles of Jack Daniel's seized from a local collector. Larry McCormack / The Tennessean

Randy Piper, left, and retired Master Distiller Frank Bobo, right, look over an article in the local newspaper in Lynchburg, Tenn. Jan. 16, 2009 about the controversy of collecting vs. consumption. Piper went afoul of the state liquor laws that resulted in the Alcohol Beverage Commission confiscating 10,000 Jack Daniel's bottles in Piper's collection. John Partipilo / The Tennessean

An empty bottle of Jack Daniel's also serves as a donation container for Piper's legal defense fund in his store Jan. 16, 2009. Piper went afoul of the state liquor laws that resulted in the Alcohol Beverage Commission confiscating 10,000 Jack Daniel's bottles in Piper's collection. John Partipilo / The Tennessean

A Jack Daniel's statue was moved to higher ground after the restaurant that bares his name was flooded inside the Gaylord Opryland Resort and Convention Center May 21, 2001. Larry McCormack / The Tennessean

Wood and drywall have been removed from the Jack Daniel's Restaurant as workers continue the clean up of Gaylord Opryland Resort and Convention Center from the flooded May 21, 2001. Larry McCormack / The Tennessean

The Woodstock burger dressed with Benton's bacon, Cabot white cheddar and Jack Daniel's maple ketchup with a side of sweet potato fries is ready to be serves at the Burger Up on 12 Ave. S. in Nashville July 19, 2010. George Walker IV / The Tennessean

Rusty's Sports Bar and Grill, here, will become the new location for the Jack Daniel's restaurant as renovation is almost finished at the Gaylord Opryland Hotel Nov. 9, 2010 after the flood of May. Larry McCormack / The Tennessean

Steve May, left, of Jack Daniel's Distillery gives Gov. Bill Haslam, right, and state Sen. Jim Tracy a tour of the 150-year-old business in Lynchburg, Tenn. Aug. 22, 2013. Brown-Forman, the parent company of Jack Daniel's, announced that the facility would undergo at $100 million expansion over the next five years, adding about 90 new jobs. Steven S. Harman / The Tennessea

Barrels of whiskey are being aged in one of the barrel warehouse at the Jack Daniel's Distillery in Lynchburg, Tenn. Feb. 26, 2016. This barrel warehouse holds more than 1 million gallons of whiskey. Andrew Nelles / The Tennessean

A look at the ingredients that make up Nashville Palace bartender Karen Lindblom's specialty cocktail called the Three Wooden Crosses, named after one of Randy Travis' hit singles. The drink includes a shot of Jim Beam, Jack Daniel's and Southern Comfort with a splash of sprite and sour mix, here April 13, 2016. Travis used to be a dishwasher at The Nashville Palace before his country music stardom. Karen Kraft / The Tennessean

“Brown-Forman could be an unfortunate and unintended victim of the policy," Varga said. “The overwhelming majority of our products are made here in America and over the last few years, I’d just cite, we’ve been investing heavily in our American manufacturing expansion.”

If Trump imposes the tariffs, other countries could also target U.S. products, including orange juice and dairy, in response.

The Distilled Spirits Council (DISCUS) cautioned last year that potential tariffs could be detrimental to the booming U.S. whiskey industry, an iconic American product with exports nearing $1 billion a year.

The whiskey and bourbon industries are key economic drivers and employers in both Kentucky and Tennessee.

Export volumes of bourbon, Tennessee whiskey and rye increased 10.2 percent in 2016, outpacing export growth in the overall U.S. spirits industry, according to DISCUS.

In 2015, whiskeys exported from Tennessee were valued at $691 million, ranking as one of the state’s top exports. The Volunteer State is home to 30-plus distilleries, although only a few of those export outside the U.S., including Jack Daniel’s and George Dickel.

Jack Daniel’s sells whiskey to more than 160 countries, with foreign sales accounting for 60 percent of the company’s overall market share. The distillery recently underwent a $140 million expansion to expand production capacity and drive more traffic to its Lynchburg distillery.

Barrels of whiskey are being aged in one of the barrel warehouses at the Jack Daniel Distillery in Lynchburg, Tennessee. This barrel warehouse holds more than 1 million gallons of whiskey.(Photo: Andrew Nelles / The Tennessean)

It spans 660 miles with more than two dozen stops from one end of the state to the other. The trail includes 11 distilleries in East Tennessee, 13 in Middle Tennessee and one in West Tennessee.

Kentucky, which has a bourbon trail, produces 95 percent of the world’s bourbon supply. The state's spirits industry, which produces brands like Jim Beam, Maker’s Mark and Woodford Reserve, employs nearly 17,500 people and pours $8.5 billion into the Kentucky economy each year. Distilleries are investing big money into their facilities as the spirit grows in popularity at home and overseas.

Lee Kennedy of Leiper's Fork Distillery talks about the Tennessee Whiskey Trail which officially launched June 19, 2017. It's a 25-stop tour across the state that's expected to be a major expected to be a major tourism draw.
Larry McCormack / The Tennessean